Corcept Therapeutics Incorporated $CORT Shares Acquired by Vanguard Personalized Indexing Management LLC

Vanguard Personalized Indexing Management LLC increased its holdings in shares of Corcept Therapeutics Incorporated (NASDAQ:CORT) by 14.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,110 shares of the biotechnology company’s stock after purchasing an additional 1,299 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Corcept Therapeutics were worth $742,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Oak Ridge Investments LLC boosted its stake in Corcept Therapeutics by 13.6% in the second quarter. Oak Ridge Investments LLC now owns 23,323 shares of the biotechnology company’s stock valued at $1,712,000 after acquiring an additional 2,784 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in Corcept Therapeutics by 3.4% in the second quarter. Concurrent Investment Advisors LLC now owns 6,175 shares of the biotechnology company’s stock worth $453,000 after acquiring an additional 205 shares in the last quarter. Maryland State Retirement & Pension System increased its holdings in Corcept Therapeutics by 18.7% in the second quarter. Maryland State Retirement & Pension System now owns 32,305 shares of the biotechnology company’s stock valued at $2,371,000 after buying an additional 5,091 shares in the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Corcept Therapeutics by 0.5% in the 2nd quarter. Louisiana State Employees Retirement System now owns 44,100 shares of the biotechnology company’s stock worth $3,237,000 after buying an additional 200 shares in the last quarter. Finally, JSF Financial LLC acquired a new position in shares of Corcept Therapeutics during the 2nd quarter worth approximately $1,056,000. 93.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CORT. Piper Sandler cut their price objective on shares of Corcept Therapeutics from $131.00 to $121.00 and set an “overweight” rating for the company in a research report on Friday, August 1st. Canaccord Genuity Group reiterated a “buy” rating and set a $140.00 price objective on shares of Corcept Therapeutics in a research note on Thursday, September 25th. HC Wainwright reiterated a “buy” rating and set a $145.00 target price on shares of Corcept Therapeutics in a research note on Monday. Wall Street Zen downgraded Corcept Therapeutics from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Corcept Therapeutics in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $135.25.

Corcept Therapeutics Stock Down 0.1%

Shares of Corcept Therapeutics stock opened at $78.60 on Tuesday. The stock’s fifty day moving average is $76.15 and its 200-day moving average is $73.02. The firm has a market capitalization of $8.28 billion, a PE ratio of 69.56 and a beta of 0.46. Corcept Therapeutics Incorporated has a 12-month low of $42.01 and a 12-month high of $117.33.

Corcept Therapeutics (NASDAQ:CORT) last issued its quarterly earnings results on Thursday, July 31st. The biotechnology company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.23 by $0.06. The business had revenue of $194.43 million during the quarter, compared to the consensus estimate of $199.40 million. Corcept Therapeutics had a net margin of 18.51% and a return on equity of 20.10%. The firm’s quarterly revenue was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.32 EPS. Corcept Therapeutics has set its FY 2025 guidance at EPS. Analysts expect that Corcept Therapeutics Incorporated will post 1.36 EPS for the current year.

Insider Activity at Corcept Therapeutics

In other news, insider Joseph Douglas Lyon sold 5,823 shares of the firm’s stock in a transaction on Friday, August 1st. The shares were sold at an average price of $67.51, for a total transaction of $393,110.73. Following the transaction, the insider owned 10,066 shares in the company, valued at approximately $679,555.66. This trade represents a 36.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider William Guyer sold 35,007 shares of the stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $71.77, for a total value of $2,512,452.39. Following the transaction, the insider directly owned 5,487 shares in the company, valued at approximately $393,801.99. This represents a 86.45% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 292,451 shares of company stock valued at $21,850,930. Insiders own 20.50% of the company’s stock.

Corcept Therapeutics Profile

Corcept Therapeutics Incorporated engages in discovery and development of drugs for the treatment of severe endocrinologic, oncologic, metabolic, and neurologic disorders in the United States. It offers Korlym tablets medication for the treatment of hyperglycemia secondary to hypercortisolism in adult patients with endogenous cushing's syndrome; and who have type 2 diabetes mellitus or glucose intolerance and have failed surgery or are not candidates for surgery.